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Oracle 1z0-1054-24 Exam Syllabus Topics:

Topic
Details

Topic 1

Using Financial Reporting: This section of the exam measures the skills of an Implementation Consultant and covers the use of financial reporting tools in Oracle Financials Cloud. It explains how to work with the Financial Reporting Center, create and manage reports using Financial Reporting Web Studio, use Oracle Transactional Business Intelligence (OTBI), leverage Smart View for reporting, and utilize the General Accounting Dashboard. It also describes analyzing budgets versus actuals with these tools.

Topic 2

Managing Period Close Components: This section of the exam measures the skills of a Financial Consultant and covers activities necessary to complete a successful period close. It explains managing revaluations, translations, and consolidations, handling reconciliations, configuring the Close Monitor to track period close status, and creating allocations and periodic journal entries needed for finalizing accounting records.

Topic 3

Processing Journals: This section of the exam measures the skills of a Financial Consultant and covers the processes involved in capturing and managing journals. It explains how to configure journal approval workflows, outlines methods for entering journals, discusses average daily balance processing, and details the configuration and processing of intercompany transactions.

Topic 4

Configuring Enterprise and Financial Reporting Structures: This section of the exam measures the skills of an Implementation Consultant and covers the setup of enterprise structures necessary for financial reporting. It includes configuring the chart of accounts, setting up account hierarchies, managing accounting calendars, securing chart of accounts segments, and handling legal jurisdictions, authorities, legal entities, geographies, and currencies to support an organization's financial operations.

Topic 5

Configuring Ledgers: This section of the exam measures the skills of an Implementation Consultant and focuses on setting up and maintaining ledgers. It explains managing ledger configurations, understanding the General Ledger balances cube for reporting purposes, and applying security controls to protect ledger data and ensure proper access management.

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Oracle Financials Cloud: General Ledger 2024 Implementation Professional Sample Questions (Q52-Q57):

NEW QUESTION # 52
You are required to changetoday's daily ratesfor convertingGBP to USD. What are three ways in which you can update existing daily rates?

A. Use the spreadsheet loader from the Currency Rates Manager.
B. Edit existing transactions and update the rates manually.
C. Update rates manually using the Currency Rates Manager, which can be accessed only from the Functional Setup Manager.
D. Update rates manually using the Currency Rates Manager, which can be accessed from the Functional Setup Manager or the General Ledger's Period Close work area.
E. Import daily rates through the Daily Rates open interface table.

Answer: A,D,E

NEW QUESTION # 53
You have just been hired to add a new subsidiary to the corporate enterprise structure in the customer's Oracle Fusion Cloud.
The subsidiary will capture transaction information from subledgers in the local currency and under International Financial Reporting standards (IFRS) and local GAAP for corporate reporting requirements, which will report via the use of a secondary ledger.
The secondary ledger is used only at period end; there is no need to have real-time transaction or Journal details. It is noted that most of the accounting between IFRS and Corporate GAAP is similar.
Which conversion level would you recommend to keep a thin secondary ledger?

A. Sub-ledger level.
B. Journal ledger
C. Balance level
D. Adjustment only

Answer: C

Explanation:
To keep a thin secondary ledger, you should select the balance level as the data conversion level. This means that only the ending balances of the primary ledger are copied to the secondary ledger at the end of each period. This reduces the data volume and storage requirements of the secondary ledger, as well as the processing time and resources needed to copy the data. The balance level conversion is suitable for scenarios where the accounting methods or charts of accounts are similar between the primary and secondary ledgers, and there is no need to maintain detailed journals or subledger transactions in the secondary ledger. References: Primary Ledgers, Secondary Ledgers, and Reporting Currencies, How Journals Are Copied from Primary to Secondary Ledgers When ..., GL Secondary Ledger Conversion Level Change

NEW QUESTION # 54
What are the tables or views from which the Create Accounting program takes source data that is used in rules to create journal entries?

A. Event Entities
B. Mapping Sets
C. Accounting Attributes
D. Transaction Objects

Answer: D

NEW QUESTION # 55
Your company has complex consolidation requirements with multiple General Ledger instances. You are using Oracle Hyperion Financial Management to consolidate the disparate General Ledgers. You can typically map segments between your General Ledger segment to a Hyperion Financial Management segment, such as Company to Entity, Department to Department, and Account to Account What happens to segments in your source General Ledger, such as Program, that cannot be mapped to Hyperion Financial Management?

A. No data is transferred.
B. The unmapped segments default to future use segments in Hyperion Financial Management.
C. Data is summarized across segments that are not mapped to Hyperion Financial Management.
D. Errors occur for unmapped segments. You must map multiple segments from source General Ledgers to the target segment in Hyperion Financial Management.

Answer: C

Explanation:
When integrating with Oracle Hyperion Financial Management, you can use the following dimensions for consolidation: Entity, Scenario, Year, Period, Value, Account, Intercompany, Custom1 to Custom4, and View. You can map one to one, or concatenate segments from your source General Ledger to a single Hyperion Financial Management dimension. For example, you can map Company to Entity, Department to Department, and Account to Account. However, if you have segments in your source General Ledger that cannot be mapped to any Hyperion Financial Management dimension, such as Program, then the data is summarized across those segments. This means that the data is aggregated to the highest level of the unmapped segments, and the detail information is lost. For example, if you have Program as a segment in your source General Ledger, and you do not map it to any Hyperion Financial Managementdimension, then the data is summarized by Program, and you cannot see the data by individual Program values in Hyperion Financial Management. References:
* Example of Mapping Segments to Financial Management Dimensions
* Overview of the Chart of Accounts Mapping Page

NEW QUESTION # 56
You are using theCreate Budgets in a Spreadsheetoption toload your budget balancesinto theGL balances cube. YourFYXX Budgetis not appearing in theBudget Namelist of values.
Which two are the reasons for this?

A. A value for the budget scenario has not been created.
B. The Create Scenario Dimension Members program has not been run.
C. The Transfer Budget Balances to Budget Cubes has not been run.
D. Budgeting has not been enabled in the ledger options.
E. The Publish Chart of Accounts Dimension Members and Hierarchies to the Balances Cube has not been run.

Answer: A,B

NEW QUESTION # 57
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